Livongo raises $44.5M to help patients live better with diabetes

Written by Andreas Rekdal
Published on Apr. 12, 2016
Livongo raises $44.5M to help patients live better with diabetes

Health tech startup 

 announced today it has raised a $44.5 million Series C round of funding.

The creator of a wireless diabetes management tool that stores glucose readings in the cloud, Livongo’s technology provides users with real-time advice and insights, and can be configured to automatically notify family and caretakers of abnormal readings.

Founded in 2014 by Chicago entrepreneur and investor Glen Tullman (pictured below), and with offices in Chicago and Mountain View, CA, this round puts Livongo’s total funding at about $77.5 million. Livongo said the funds will be used in part to support that growth, but also to bring new products and services to market.

The round comes on the tail end of a rapid adoption of the company’s diabetes management system by employers and healthcare providers. Investors includes Zaffre Investments — the investment arm of Blue Cross Blue Shield of Massachusetts.

“Livongo is leading a new wave of innovation focused on chronic disease management, beginning with diabetes,” said Tuoyo Louis, managing director of Zaffre Investments, in a statement. “The company is unique in combining a consumer focus with broad healthcare and technology experience and has demonstrated measurable results in member satisfaction, clinical improvement, and cost savings based on client reported results.”

One early adopter of the company’s solution is Lowe’s — the national home improvement chain. Following a pilot program for employees and their dependents in Alabama and the Carolinas, the retailer expanded access to Livongo’s technology to employees and dependents nationwide last month.

“We are excited by the demand for our solution, which combines the latest technology, data science, and coaching to empower people with diabetes to live a better life,” said Livongo CEO Glen Tullman in a statement. “The most important challenge to address in healthcare today is how we manage chronic disease, and the status quo simply isn’t working. Livongo Health’s platform delivers real-time, personalized support in context, when and where it’s needed.”

A longtime Chicago tech personality, Tullman served as CEO of another health tech company, Allscripts, through the company’s $1.4 billion IPO in 2012. Tullman is also co-founder and managing partner of 7wire Ventures — a Chicago investment firm centered around health tech and education. His brother, Howard Tullman, is CEO of Chicago’s 1871 entrepreneurial hub.

Other investors participating in the round include Merck Global Health Innovation Fund, Cowen Private Investments, Sapphire Ventures and Wanxiang America Corporation, and existing investors including General Catalyst, Kleiner Perkins Caufield & Byers (KPCB) and DFJ.

Images via Livongo Health.

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